5 Ways to Prepare for a Business Audit

The business world is changing and morphing. The business needs and tools of today are quickly finding new uses. The traditional business audit is just one of these. The traditional financial audit has been added to as additional business facets need to be audited. There are ways to prepare for any of these audits and a smart manager will ensure that basic preparation work is handled before the auditors arrive.

Financial Audit

The financial audit is the most common type of business audit and it can be one of the most difficult ones. The purpose of the audit is to look for improprieties and ensure that the financial statements are accurate.

In preparing for a financial audit, it’s important to gather records. Your auditor will need these financial records and will check them to ensure that they are accurate. Without access to the correct information, the audit could have very unfavorable results. Spend time with pertinent employees ensuring that information is gathered before the audit. Take the time to read over the financial statements to ensure that they properly reflect your business and its actual business picture.

Security Audit

Security is one of the top concerns of any business. Moreover, security is one of the top issues when competing for vendor contracts. They want to know if your business takes security seriously. Security covers a broad area, from physical security to cybersecurity. Your security audit provides you with information on how to protect your business from a variety of potential risks.

Preparing for a security audit means preparing information so that it’s available to your security auditor. They will want to know all of your systems and facilities. They will want to know who has access to these systems and facilities. Prepare a list of these and employees with access. Prepare a list of security procedures so that the auditor has this information and be prepared to answer any questions. Furthermore, you will want to have a meeting to discuss the security audit and its importance with your employees.

Energy Audit

Energy audits have become much more important in business. Energy costs represent a significant cost of doing business. Energy audits are useful in finding areas where energy usage is particularly high. In fact, nearly any business can benefit from an energy audit. A skilled energy auditor can take the findings and recommend ways to reduce energy usage.

There are a couple of good ways that you can prepare for an energy audit at your business. You should prepare your energy bills for the last year. If there have been any events that have impacted the bills, make sure you note that. You’ll also want to talk with employees about rooms that may be drafty or heating and cooling problems that they have noticed. This will provide your energy auditor with a very effective starting point.

Air Quality Audit

An air quality audit, done by companies like Stephenson Environmental Management Australia, is a relatively new type of physical audit. An air quality audit consists of a qualified air quality professional coming to your business and measuring the air quality at different locations. The air quality auditor will inspect different parts of the business to see what changes might be necessary to improve air quality in the business.

The best way to prepare for an air quality audit is to have a generalized business cleanup. You could start with having the workers in the office taking the time to do cleaning work around their workspace. Outside cleaning services might need to be hired to ensure that the business is cleaned thoroughly. With the removal of dust, allergens, and other substances that affect air quality, your business can focus on real air quality issues that come up during your audit.

Green Audit

If your business takes environmental issues seriously, you may have heard about green audits and you may even regularly take part in these audits. These audits are focused on ensuring that your business is properly implementing its green initiatives. The processes and procedures are evaluated to ensure that they are environmentally sound and going in the right direction.

Preparation is very important for green audits. It’s important that every employee knows they are on the same page. You’ll want to talk with your employees and remind them of the importance of the green audit. You’ll want to have a meeting to discuss the audit and what it will entail. If the employees know what to expect, they can help the audit achieve the desired results.

With the right kind of preparation, your audits can help take your business to the next level. You’ll gain important knowledge about your business processes and policies. You’ll have the information needed to make profitable changes going forward.